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Yunnan Chihong posts 46% drop in FY'18 net profit

Yunnan Chihong Zinc and Germanium Co. Ltd. on March 19 posted a 46% year-over-year drop in net profit attributable to shareholders for 2018 to 622.8 million Chinese yuan from 1.16 billion yuan a year earlier.

It recorded a net loss of 213.8 million yuan in the fourth quarter of 2018.

The company's full-year 2018 operating revenue increased 2.6% year over year to 18.95 billion yuan from 18.47 billion yuan in the previous year.

EPS declined 53.7% to 12.23 fen, compared with 26.4 fen in the year-ago period.

The company produced 2.4 million tonnes of sulfide ore and 352,900 tonnes of lead and zinc in 2018. Yunnan Chihong smelted 468,500 tonnes of lead and zinc products during the year.

As of March 18, US$1 was equivalent to 6.71 Chinese yuan.